What actions can business leaders in the finance industry take to improve wellness?

Published On : 09/22/2018

Employee wellness is all about ensuring staff are happy and healthy in and out of work. Mental health-related presenteeism costs employers up to three times the cost of mental health-related absence so it’s more important than ever for businesses to take action and take greater responsibility for the wellbeing of employees¹.

It’s undoubtedly a win-win for both parties as employees are more likely to work longer and be more productive when they are happy and healthy.

Alongside this, it is emerging that employees are calling out for greater support at work, with 8 in 10 saying they do not believe their employer does enough to support their physical and mental wellbeing2.

Richard Holmes, Director of Wellbeing at Westfield Health, advises what actions you can take in your business to improve wellness.

1. Encourage staff to get out the office

“Not only is eating at your desk bad for your body, it’s bad for your work and your mental health. Getting fresh air and a change of scenery will mean employees return to their desks feeling recharged and less stressed. It is also a good way to encourage employees to get out the office and exercise. You can also help decrease the risk of depression and poor mental health by suggesting a walking meeting every now and again.”

2. Approachable line managers

“The first point of call sits with line managers. As well as helping employees achieve their work-related goals, a key part of a line manager’s role is to be an approachable mentor, a good listener and to be understanding. This communication between an employee and their line manager can play a massive part in their mental wellbeing at work and therefore reduce mental health related absences.”

3. Destigmatise mental health

“In 2016/17, there were over half a million (526,000) cases of work related stress, depression or anxiety, and this accounted for 40% of all work-related ill health¹. A ‘mental health day’ gives staff the ability to treat a mental health absence with the same approach as a physical sickness day.  This will reduce the stigma around mental health and encourage staff to talk openly about their mental wellbeing. It is also a good way to monitor how people are feeling, for instance if someone is absent as a result of their mental health, something can be put in place to monitor and support them.”

4. Keep it fun

“Implement schemes and competitions in the workplace as an incentive for staff to get involved. Competitions can include sports days, quizzes or a step challenge and can either be judged individually or in teams. Introduce prizes to build competitiveness such as a free massage, healthy food vouchers or a gym subscription, resulting in a happier, healthier lifestyle.”

5. Flexible working

“The traditional 9 to 5 hours may not fit in with everyone’s lifestyle, so offering a flexible schedule may make a lot of employee’s lives easier. Businesses can also offer the option to work from home a few days a week. If an employee has a long commute, this can have a big impact on energy levels and general wellbeing.

For more information, visit https://www.westfieldhealth.com/

1 According to the Deloitte UK Mental Health Monitor, October 2017: https://www2.deloitte.com/content/dam/Deloitte/uk/Documents/public-sector/deloitte-uk-mental-health-employers-monitor-deloitte-oct-2017.pdf

2 Research conducted by Westfield Health in April 2018, surveying 2,025 UK employees

Wanda Rich

Wanda Rich has been the Editor-in-Chief of Global Banking & Finance Review since 2011, playing a pivotal role in shaping the publication’s content and direction. Under her leadership, the magazine has expanded its global reach and established itself as a trusted source of information and analysis across various financial sectors. She is known for conducting exclusive interviews with industry leaders and oversees the Global Banking & Finance Awards, which recognize innovation and leadership in finance. In addition to Global Banking & Finance Review, Wanda also serves as editor for numerous other platforms, including Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune.